Former insurance company employees held in TN for swindling Rs 21 lakh of policy holders

TIRUPUR: Three former employees of a private life insurance company were arrested here on Tuesday for allegedly swindling Rs 21 lakh premium paid by policy holders. The accused have been identified as Reliance Nippon Life Insurance’s former marketing manager Arunkumar, 30, of Tatabad, former sales executive Venkateshprabhu, 54, of Ramanathapuram (both hailing from Coimbatore) and former collection agent Divakaran, 31, of Nallroad in Tirupur. The life insurance company has a branch in Court Street here. The Mumbai-headquartered firm found that premiums paid by the policy holders had not been credited to the company.

It conducted an internal investigation and found that that Arunkumar had colluded with Venkateshprabhu and Divakaran to swindle premiums to the tune of Rs 21 lakh paid by several policy holders in 2017-18. The accused provided fake cash receipts to the policy holders. The insurance company terminated the service of the accused when their role in the crime came to light. The Central Crime Branch (CCB) police arrested the accused based on a complaint filed by the branch manager of the company.